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Home My WebLink About2671 UNIFCRtA COVENANTS. Borrowx nnd Lender covenant and ngree as foMows: 1. Payment of Princlpal and intoreat; Prepayment and lats Cha~ges. eorrower snap prompty pey when due the principal of and Interest on ihe debt evldenced by the Note and prepayrnent and late charges due under ihe Note. 2. Funds for Taxes and Insurance. Sub}ect to appliccable law or to a written waNer by Len6er, Borrower shaN pay to Lende? dn ihe day monthy payments ara due und+ar the Note, until the Note Is paid M IuN, a sum ("Funds"~ equal to one-twetfth of: (a) yearly taxes nnd assessments whlch may attah p~iority over th{s Sec:urity Instrumer?t: (b) yearty leasehold payments or ground rents on ihe Property, if any; (c) yearly hazard insurence prerniumr and yearly mortgage hsu~ance prerr~iums, H any. These Rems aro caNed "escrow items." Lender may estimate the Funds due on the basis oi cuRent data and reasoneble estkr?ates ot future esaow ftems. The Funds shaM be h~ld h an institutio~ the depoafts or accounts of whkh are insurad or guaranteed by a federal or stete ngency ;~~~dir~~ Lc~~~. u La~~~ is such an in3titui~). L~der shall ap~iy the Funds to pay t~ze ~cr~w it~,ns. Lender may noi chmge ior noiamg and applying the Funds, analyzing the account or verifying the escrow kems, unlesa Lender paya 8orrovrer interest on tha Funds and applicable law permits lender to maka auch s cherge. Borrower and Lender mey egree in writing that interest ahaM be pald on the Funds. Unless an agreement is made or appYcable law requkes interest to be paid, Lender shal not be required to pay BoROwer any fnterest or earnings on the Funds. Le~der shaN gF+e to BoROwer, wRhout charge, an annuel accounting ol the Funds ahawing cxedits end debits to the funds and tha purpose tor wh~Ch each debit to the Funds was mede. The Funds ere piedged as additional securiry ior the sums secured by by this Security InsUument. ~ ~f the emount of the Funds held by Lender, together with the luture monihfy payments of Funds payeble prior to the ciue clntes Qf the ; :1w ~L~11 ~J ~L~ "2__J ~.a,G ~.i~ u~~an cw::'ccv u~n wi~vui~2 i~i,acv iv Mny u~o 8s"uVii itoi~i3 initef~~ uYC. iiln tui:ifs3 SiHL7 vtl~ 9l DOiiOW6fS O~liO(i~ 21IIl~i ~OITipU~t ~ repaid to Borrower cr uedited to Borrower on monthly payments of Funds. H the amount of the Funda held by Lender is not suttident to pay the escrow items when due, Borrower shaN pay to Lender any amount necessary to make up the detiaency in one or more payments as ~ required by Len~er. Upon payment in fuN of aA sums secured by this Security Instrume~t, Le~der shaM promptly retund to Borrower any Funds held by Lender. ~ ;t under paragraph 19 the Property is sold ar acquired by Lender, Lender shal epply, no {atex then ~iately prior to the sele ot the Property or its acquisition by Lender, any Funds held by Lender at the time of appMcatinn es a aedit agahst the sums secured by this Securiry Instrument. 3. Appiication of Payments. Unless appNcable lew providas otherwlse, aN payme~ts received by Lender under paragraphs 1 and 2 ' shall be applied: first, to {ate charges due und~ the Note; second, to prepayment cherges due under the Note; third, to amounts payable under paragraph 2; fourth, to interest due; and last, to p~inc,~pal due. 4. Cherge8; Liens. Borrower shad pay eN taxes, assessments, cherges, fines and 4r~posilions attributable to the Property which may attain priority over this Security InsUument, ert~ leasehold payrr~ents or ground rents, i( nny. Borrower shaB pay these obiigations in the manner provided in paragreQh 2, or it not paid 'n that manner, Borrower shaN pay them on teme directly to the person owed payme~t. Borrower shaA - promptly fumish to Lender aN notices of emounts to be paid under this paragraph. If Borrower mekes these payments directly, Borrower sha~ promptly fumish to Lender receipta evidenang the payments. Borrower shatl prompUy discharge any Nen which has prioriry o~,rer thls Security Instrument untess Borrower: (a) agrees in writing to tl~e pay- ent o( ihe obligation secured by the Gen in e manner acceptable to Lender; (b) contests in good faith the Nen by, or detends against enioro~ ment oi the lien in, legal proceedings which in the Lender's opinion operate to pre~rent enforcert~ent oi the Ben w forfeiture oi any part of the Property; or (c) secures from the holder of the Gen an agreement satisfactory to Lender subordnatlng the 4en to this Secwity InsUument. H Lender determines that any part of the PropeKy 1s subject to a rien which mey attain priority over this Security Instrument, Lender mey give Borrower a nodce identifying the lieen. Borrovret shaN satisfy the 4en or teke one or more of the actlons set forth above wfthin 10 days of the gi;~ng of notice. 5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter ereded on the Prope~ty insured agak?st loss by fire, hazards included with~ the tertn "extended coverage" and any other hezerds tor which Lender requires insurance. This ~surance shap 'i be maintained in the amounts and tor the periods that Lender requi~es. The insurance carrier providing the insurance shaH be chosen by ; Borrower subject to Lender's approval which sheN not be unr~sonably withh~ld. ; Ai! insurance po6des end renewals shaN be accepteble to lender and sheN indude a standard mortgage dause. Lender shaN have the right :c hold the policies and renewals. tf Lender requlres, Borrower shaN promptly give to Le~der nN receipts oi pald premiums and renewal notices. ~ Ir, the event oi loss, BoROwer shaq give prompt notice to the k~surance carrier and Lender. Lender msy make proof ot loss it not made ~ ; promptiy by Borrower. ~ Unless Lender and Borrower otherwise agree in writing, fnsurance proceeds sha6 be appNed to restoration or repak of the Property damaged, ' i?hs restoration or repair is economicatly teesible and Lender's security is not lessened. If the restoraUon or repak is not economicaqy teasib{e or Lender's security would be lessened, the insurance proceeds shaN be appGed to ihe sums secured by thfs Security InsUument, whether or not then due, with any excess paid to Borrower. Ii Borrower abandons the Property, or does not answer within 30 days a noUce from lender that the insurance carrier has offered to settle a ctaim, then lendef iney coNeci the insurance proceeds. Lender may use proceeds to repair i ` er restore the Property or to pay sums secured by thls Seauity Instrument, whether or not then due. The 30-day period wdl begin when the 0 s ~-.otice is given. = Jnless Lender end Borrowef otherwise egree i~ writing, any applicaUon of proceeds to principal sha~ not extend or postpone the due date ~ of the monthly peyme~ts reterred to in paragraphs 1 and 2 or chenge the amount of the payments. ff under paregraph 19 the Property is t acquired by Lender, Borrowers right to any insurance policies and proceeds resulting from demage to the Property p~ior to the acquisition i shall pass to Lender to thE extent of the sums secured by this Security InsVument krwnediately prior to the ecqulsitlon. ; 6. Preservation and Maintenan~e of Property; Leassholds. Borrower shaH not destroy, damage or substentia~y change , the Property, al~ow the Property to dete~iorate or corrxnit waste. F( this Security InsVument is on a I~sehold, Borrower shaM comply with the ' ` provisions ot the leese, end 'rf Borrower acquires tee titfe to the Propcrty, the leasehold and fee title shall not merge unless Lender agrees to s ttie merger in wriGng. _ 7. Protection of Lender's Rights In the Praperty; Mortgage (t~surance. It Borrower faits to pe~iorm the covenants . and agreements contained fn this Securfty Instrume~t, or there ts a legel proceeding that may signficantty aflect lender's rights ~ the Property ~ (s~.:ch as a proceeding in baniwpicy, probate, fw condemna4ior? or to entorce laws or regulations), then ~~der may do and pay for whatever s necessary to protect the value of the Property and Lender's rights in the PropeRy. Lender's actions may indude paying eny sums secured ~y a lien which has priority over this Security InsUument, eppearing in court, paying reasonable attomeys' fees and entering on the Property to ~ake repairs. Aithough Lender mey take action u~der this peragreph 7, le~der does not heve to do so. My amounts d~sbursed by Lendef under this paragraph 7 shap become edditional debt of Borrower secured by this Secx~rity Instrument. U~Iess Borrower and Lender agree to other tertns of payment, these emounts sheA bear ~terest from the date oi disbursement at the Note rate ,nd shall bs payable, with interest, upon notice fram Lender to Borrower request~ng payment. f ~ Pa ~ ?5,'83) 926 9e 2 ef 4 ~ ~ 1 BOGK675 "r'„~E~U~1 - .__~~~s.~. , ~ _ < ~.G ~v. ~_w ~e.,~,~;«. ~ ~~a~